Northumberland Real Estate

The real estate market at the first of the year is always slow in Northumberland County. Just like all over the world, the folks in Cobourg, Port Hope or really everywhere in Northumberland are just coming down after the Christmas holiday. Things are winding down, there’s snow on the ground and moving to a new home, condo or property just isn’t that attractive.

Northumberland Home Values Group

We understand these trends in the real estate market. We expect a slow down this time of year and we use the lull to prepare for the next marketing season. We get our materials in order, new printing done and dust off some of those neat ideas we had when we were busy and see which ones still look like they can help us do a better job helping people when buying or selling real estate.

But we also use this time to reflect on last year. Real estate is fluid – you can never predict what will happen when. Trends can only be identified by looking back. At the Northumberland Home Values Group we’re watching all the time – we’re here for ya !!

January is a great time to look back how the real estate market was as well.

2017 compared to the last 10 Years

Homes Sold — UP 30%

Homes Offered FOR SALE — DOWN 30%

Number of Homes FOR SALE January 1 – DOWN 30%

What is most concerning here is the lack of inventory.

2017 Compared to the last 4 years

Really very little has changed – Over the last 4 years the dwindling inventory has resulted in sales figures staying relatively constant. Why so few homes are coming on the market is really hard to figure out – but it’s a fact. The result of this is the people who have to buy a home often are forced to compromise. Some people have to buy to take a new job, or get your children into a new school and are forced to take what’s available. Not everyone has the luxury of waiting things out. In that case, those families really need a local expert to help them understand the market. Just as important is the counseling an expert realtor can give in these times to help families isolate the important considerations from the less relevant concerns, staying focused on what is most important.

Home sellers are challenged with the prospect of not being sure about pricing. When the inventory is low there can circumstances that skew the apparent value of properties. We’ve seen an especially motivated buyer over pay for a home for their own reasons and mess up the whole street for months. You never want to under sell a home – At the Northumberland Home Values group we are constantly monitoring what is happening locally so we can give the best advice. We have strategies to share for any market.